122 S. Water St. Riverfront Building Lot

Vacant Land for Sale
Catylist Listing ID: 30441368
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Other
Gross Land Area: 6,848 SF
Sale Price: $800,000
Unit Price: $116.82 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/11/2021

Overview / Comments

Incredible +/-.16 acre riverfront lot addressed 122 S Water St, prime for building and connecting to the Riverwalk with rights to dockage and potential for approximately 100' of floating dock. This site is perfect for many uses including restaurant, residential and event space.

This prime location enjoys extremely heavy foot traffic via the Riverwalk and Water St with a dense concentration of restaurants and retail in the immediate and greater area. Historic Downtown Wilmington continues to experience heavy investment and economic development through recent and current projects with many more on the horizon. Here is a very rare opportunity to create an iconic addition to the Wilmington skyline.

CBD zoning allows a variety of commercial and hospitality uses and is the only zoning that allows short term vacation rentals in the Historic District.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R05308-006-002-000
Zoning: CBD
Property Located Between: Dock St and Orange St
Property Visibility: Excellent
Legal Description: BLK 138 1/2 W LT 5 W PT LT 4 WILMINGTON
Largest Nearby Street: Market St/HWY 17
Highway Access: Easy access to I-40, US 17, US421, US 74/76
Airports: ILM (4.5 miles), MYR (80 miles), RDU (145 miles)
Site Description: Historic Downtown urban setting. Ingress and egress on Water Street.
Lot Frontage: 105'
Lot Depth: 65'
Zoning Description: Sec. 18-196. - CBD, Central Business District. (a) Purpose. This district is established to create and maintain a high density commercial, office, service and residential area meeting city, county and regional needs. It encourages the full utilization of public services and contributes to the economic base of the city. According the Wilmington Vision 2020: A Waterfront Downtown plan, the CBD is envisioned to be a living, working, learning and mixed use community. The intent of the design standards is to recognize and respect historic resources; to preserve and respect existing historic buildings; to preserve the cohesive character of the downtown area by compatible, sympathetic development and to provide an enhanced pedestrian experience. This district is not intended to accommodate basic industries and other uses that produce noise, odor, smoke, dust, airborne debris, and other impacts that might be detrimental to the health, safety, and welfare of the surrounding neighborhoods, the viability of surrounding uses, or industries with small physical plants and high land-to-worker ratios.
In Flood Plain?: Yes
Topography: Level
Easements: Pipelines, Water Rights
Easements Description: Parcel has connectivity to the Riverwalk and potential for dock space. Subsurface stormwater pipe
Available Utilities: Electric, Water, Gas, Sewer, Cable, Broadband
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,591 34,521 111,009
Median Age: 36.07 38.18 36.37
Households: 3,914 15,805 48,167


Photograph of Listing Agent

Eric Knight

Nest Realty NCCMLS Member
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